Putin signed a law on the legalization of cryptocurrencies in Russia. What you need to know

The information in this material is not an investment recommendation.

Russian President Vladimir Putin has signed the law on Digital Currencies and Digital Rights, the main parts of which will enter into force on September 1, 2026. The document forms the legal basis for the regulated circulation of cryptocurrencies in Russia.: regulates the purchase of digital assets through licensed intermediaries, exchange transactions, clearing, the work of crypto exchanges and digital depositories. What you need to know about the innovations is in the Izvestia article.

Purchase and payment

• The new law allows buying and selling cryptocurrencies through licensed intermediaries. Both qualified and unskilled investors will be able to do this. The unqualified will first have to take a test, after which they will be able to buy only the largest and most reliable cryptocurrencies worth up to 300 thousand rubles per year through one intermediary. There will be no such restrictions for qualified investors, although they will also have to pass testing.

• A Russian business company with its own funds of at least 15 million rubles will become a crypto exchange. The company must be included in the register of the Bank of Russia, but it is allowed to operate without being included in it until July 1, 2027.

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• It is still impossible to pay for goods, works and services in cryptocurrency within the country, and there is also a ban on advertising such payments. Exceptions are provided for foreign trade contracts, mining fees, network commissions, and transactions with securities, digital currencies, and digital rights. Cryptocurrencies with a capitalization of more than 5 trillion rubles and an average daily trading volume of over 1 trillion rubles over the past two years are allowed for public exchange trading.

Market formation

• In addition, the law classifies foreign stablecoins into a separate category — "non-deliverable foreign digital instrument", and also prohibits certain individuals from mining (in particular, those with an outstanding criminal record).

• In 2024, a law came into force in Russia that legalized the mining of cryptocurrencies. Currently, Russian legal entities and individual entrepreneurs included in the register of the Ministry of Finance will be able to extract digital assets. Individuals are also allowed to mine if they do not exceed the established limit of electricity consumption. At the same time, companies from the electric power industry cannot engage in such activities, and advertising of cryptocurrencies and related services is prohibited. Miners are required to provide information about their activities to government agencies, including the Federal Tax Service, the FSB, the Federal Property Management Agency and Rosfinmonitoring.

• The law also makes it easier to work with digital financial assets. Currently, digital rights can only be issued through special Russian platforms operated by licensed operators (the register of such platforms is listed on the Central Bank's website). The new law allows the creation of such assets in public blockchains, open networks where many cryptocurrencies operate.Buying and selling digital assets will be allowed through intermediaries and on the stock exchange. This will make digital tools more accessible to investors and help companies attract financing.

• The main provisions of the new law will become effective from September 1, 2026, and the mandatory conduct of transactions with cryptocurrency only through licensed intermediaries — from July 1, 2027.

• The new law allows for the withdrawal of a significant part of cryptocurrency transactions from the gray zone. This simplifies taxation, reduces risks for investors, and creates a regulated infrastructure for the circulation of digital assets. In addition to greater transparency and market security, the legalization of cryptocurrencies will give experienced investors new opportunities, and protect most Russians from risky investments. This approach is consistent with global practice: many countries are gradually introducing rules for the cryptocurrency market. At the same time, the Ministry of Finance believes that cryptocurrency remains too unstable an asset to form government reserves.